Updated about 6 years ago on . Most recent reply
Joint Venture - Can only 1 partner qualify for mortgage
Hello, I had a large amount of capital, but I cannot qualify for mortgages so I am looking for a way around that. If I were to recruit partners is the following scenario possible.
We both put 50% of the down payment in, but only my partner uses his income to qualify for the mortgage. Would we both go on title this way or would the bank not want a second person on title? Could we both go on the mortgage, but only my partners income used to qualify for the financing?
The reason I ask is because I have plenty of people who would go 50/50 with me on multiple properties, but I will not qualify for mortgages so I was trying to see what the best way to work around that is.